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[Cites 0, Cited by 0] [Section 46] [Entire Act]

Union of India - Subsection

Section 46(5) in Banking Companies Act, 1949

(5)Without prejudice to the provisions of sub-section (4), if any banking company fails to comply with the provisions of section 24 or section 25, the Reserve Bank shall by notice in writing make a demand on the banking company to comply with the said provisions within thirty days from the receipt of the notice, and if the banking company fails so to do, the Reserve Bank may apply under section 38 for the winding up of the banking company.